Solana Spot Staking ETF Debuts with $33M Trading Volume, Anchorage Digital as Custodian

The REX-Osprey Solana + Staking ETF, the first spot Solana staking exchange-traded fund launched on Wednesday, generated substantial market interest. Bloomberg data reveals the ETF recorded approximately $33 million in trading volume on its first day, with $8 million traded within the initial 20 minutes of launch.

Though impressive for a cryptocurrency ETF debut, these figures remain below the historic performance benchmarks set by Bitcoin and Ether spot ETFs. Senior ETF analyst Eric Balchunas noted: 'SSK's $33M first-day volume significantly outpaces Solana/XRP futures ETFs, but doesn't approach Bitcoin/ETH spot ETF levels.'

The fund concluded its opening day with $1 million in assets under management (AUM), with Balchunas projecting potential growth to $10 million AUM by the second trading day based on current momentum.

This ETF represents a regulatory milestone as the first SEC-registered product under the 1940 Investment Company Act's stringent investor protections. Anchorage Digital, the sole federally chartered crypto bank, was selected as custodian to handle both asset custody and staking operations.

Anchorage CEO Nathan McCauley described the launch as 'crypto ETFs' next evolutionary phase,' highlighting its role in providing institutional investors with compliant digital asset exposure.

In related developments, the SEC has extended its review period for Grayscale's proposed ETF conversion of its Digital Large Cap Fund, which includes Solana alongside Bitcoin, Ether, XRP, and Cardano's ADA. This follows Grayscale's 2023 legal victory forcing SEC reconsideration of its Bitcoin Trust ETF application.